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Nope. If he had stayed on the roster, his cap hit was 8m. If you cut him, the dead cap hit is 8.2. So it cost you 200K more to cut him than to keep him on the roster. You're just splitting it over 2 years with the June 1 cut. You're not actually saving anything in the long run, just making it more easily digestible by putting it out over 2 years rather than 1.

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I never thought he was particularly impressive at any point during his NFL career, but there were games (or moments in games) where he'd be lighting up the other team and looking like a legitimate threat. Just never seemed to consistently be on the same page with the rest of the offense though. He's still relatively young in terms of NFL years, so he should get picked up by some team.